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Barclaycard closing my account due to "Business decision"

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  • Alex9384
    Alex9384 Posts: 980 Forumite
    Fifth Anniversary 500 Posts Name Dropper Photogenic
    Emmia said:

    It's possible that by only using the card for MT and BT that you've somehow been flagged as a risky customer - it could look like you keep running up debts, and then use Barclaycard to address them at 0%.

    I'll be surprised if they'll let you open another card with them, having had one closed by them. Time to move on and find another provider ?

    Like I said, I used it for purchases too, just not in the last few months.
    I've been doing the same thing with Santander, Halifax, Lloyds for a few years now. Each of them was paid off to zero, stays on zero for a few months (or I do a few small purchases) and then if a new offer comes up, I take it. Should I also expect other banks close my accounts then? Why would they keep giving me new offers and then get shocked when I accept them? That's ridiculous. From monthly feeds that they receive from CRAs, they must see that I'm a very low risk customer. Having almost 800 monthly payments across multiple cars over years, and zero late payments, that's not very typical for people who struggle with their finances... is it?

    Also, I had Barclays current account for 2 years (switched out last year) which I opened for BlueRewards and I had 5k sitting in their savings all the time. Again, not very typical for people who struggle with debt, I guess.

    Lots of people especially on this forum do stoozing, they keep rolling over their debt from card to card for several years, but somehow they don't get their accounts shut down.
     
    EPICA - the best symphonic metal band in the world !
     
  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    Alex9384 said:


    Lots of people especially on this forum do stoozing, they keep rolling over their debt from card to card for several years, but somehow they don't get their accounts shut down.
    Doesn't mean that the banks are beginning to slowly weed them out. Now that that the macro economic landscape has changed.  No longer the profitable activity it once was for them. 
  • Alex9384
    Alex9384 Posts: 980 Forumite
    Fifth Anniversary 500 Posts Name Dropper Photogenic
    So, does anyone know what happens after 2/4/25 when they close my card but I still have BT balance on it? What will be shown on my credit reports? I'm surely not the first person ever to whom this happened. Anyone who experienced this before?
     
    EPICA - the best symphonic metal band in the world !
     
  • born_again
    born_again Posts: 20,356 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    Alex9384 said:
    So, does anyone know what happens after 2/4/25 when they close my card but I still have BT balance on it? What will be shown on my credit reports? I'm surely not the first person ever to whom this happened. Anyone who experienced this before?
    So long as you keep paying it off. Nothing.

    Credit report number is made up by CRA. Lenders do not see the number
    Life in the slow lane
  • Sly72
    Sly72 Posts: 207 Forumite
    Third Anniversary 100 Posts Name Dropper
    Alex9384 said:
    So, does anyone know what happens after 2/4/25 when they close my card but I still have BT balance on it? What will be shown on my credit reports? I'm surely not the first person ever to whom this happened. Anyone who experienced this before?
    You will not be able to use your card, you just pay off the balance and once done they close it down. If you don't clear by end of 0% you will get charged interest.
    I have Dyslexia which is a learning difficulty that primarily affects the skills involved in accurate and fluent word reading and spelling so some post may not make sense.
  • Alex9384
    Alex9384 Posts: 980 Forumite
    Fifth Anniversary 500 Posts Name Dropper Photogenic

    So long as you keep paying it off. Nothing.

    Credit report number is made up by CRA. Lenders do not see the number
    I know, I don't care about the number.
    I'm asking how the account will be reported. Will it still appear as open on my credit reports because of the existing balance even after 2 Apr?

     
    EPICA - the best symphonic metal band in the world !
     
  • Alex9384
    Alex9384 Posts: 980 Forumite
    Fifth Anniversary 500 Posts Name Dropper Photogenic
    Sly72 said:

    You will not be able to use your card, you just pay off the balance and once done they close it down. If you don't clear by end of 0% you will get charged interest.
    So nothing will change on my credit reports in terms of how that CC account is reported? Obviously, it will be closed on 2 Apr, so I'm wondering if that will be somehow reflected on my credit reports.

    I just don't want anything on my reports that might cause other banks to freak out because they tend to act like sheep or domino or whatever the best analogy would be.
     
    EPICA - the best symphonic metal band in the world !
     
  • grumpy_codger
    grumpy_codger Posts: 991 Forumite
    500 Posts Name Dropper Photogenic
    edited 6 February at 3:29PM
    Alex9384 said:
    Emmia said:

    It's possible that by only using the card for MT and BT that you've somehow been flagged as a risky customer - it could look like you keep running up debts, and then use Barclaycard to address them at 0%.

    I'll be surprised if they'll let you open another card with them, having had one closed by them. Time to move on and find another provider ?

    I've been doing the same thing with Santander, Halifax, Lloyds for a few years now. Each of them was paid off to zero, stays on zero for a few months (or I do a few small purchases) and then if a new offer comes up, I take it. Should I also expect other banks close my accounts then? Why would they keep giving me new offers and then get shocked when I accept them? That's ridiculous. From monthly feeds that they receive from CRAs, they must see that I'm a very low risk customer. Having almost 800 monthly payments across multiple cars over years, and zero late payments, that's not very typical for people who struggle with their finances... is it?

    Also, I had Barclays current account for 2 years (switched out last year) which I opened for BlueRewards and I had 5k sitting in their savings all the time. Again, not very typical for people who struggle with debt, I guess.

    Lots of people especially on this forum do stoozing, they keep rolling over their debt from card to card for several years, but somehow they don't get their accounts shut down.
    “The hardest thing of all is to find a black cat in a dark room, especially if there is no cat.” Stop looking for some sense where there is no any.
    It's a random process driven by computers often programmed by not very clever people. And some other people have to close some accounts to justify their existence. Most likely, the "business decision" was made because you are an unprofitable customer and has nothing to do with risks. 
    I have two barclaycards. One with cashback I've been using for purchases until Chase offered 1%. The second one was either redundant or used for loss-making (for Barclaycard) BTs. And they keep increasing its credit limit - hence "not very clever people" above.


  • Alex9384
    Alex9384 Posts: 980 Forumite
    Fifth Anniversary 500 Posts Name Dropper Photogenic

    “The hardest thing of all is to find a black cat in a dark room, especially if there is no cat.” Stop looking for some sense where there is no any.
    It's a random process driven by computers often programmed by not very clever people. And some other people have to close some accounts to justify their existence. Most likely, the "business decision" was made because you are unprofitable customer and has nothing to do with risks. 
    I have two barclaycards. One with cashback I've been using for purchases until Chase offered 1%. The second one was either redundant or used for loss-making (for Barclaycard) BTs. And they keep increasing its credit limit - hence "not very clever people" above.



    Yes, quite possibly.
    The most frustrating thing is that when banks close your accounts, they blacklist you for life. Perhaps it should be somehow regulated. The same way as your credit history disappears after 6 years.  As long as customers don't commit fraud, etc., I don't see any reason why they should be banned for life.
     
    EPICA - the best symphonic metal band in the world !
     
  • etienneg
    etienneg Posts: 576 Forumite
    Part of the Furniture 500 Posts
    Alex9384 said:

    The most frustrating thing is that when banks close your accounts, they blacklist you for life. Perhaps it should be somehow regulated. The same way as your credit history disappears after 6 years.  As long as customers don't commit fraud, etc., I don't see any reason why they should be banned for life.
    I disagree. Banks are businesses and I see no reason why businesses should not be left to decide for themselves whether or not to provide their services to any particular individual (protected characteristics excepted).

    I tend to think there's something more behind this than we have been told. I'm not accusing the OP of deliberately witholding or misrepresenting something, but it's often the case that people don't mention something that they don't think is relevant but actually is. Otherwise, as the OP said, why doesn't the bank just stop offering them BTs and MTs?
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